But this I just want to show you some data here.

You're still solvent.

They serviced the loans.

The state pen, prison ward, old folks' cage.

But kind of the one that people always talk about, I guess in the same phrase, is bonds.

SADAKO SAWAMURA

We need better places in this country. Public space.

Helps bring it down.

So that's bankruptcy.

You go get bankruptcy protection.

So she ran away from home. And then went astray.

We would create incentives for securitization.

It can do it through debt or equity.

I have 4 billion in residential CDOs, collateralized debt obligations.

Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

Payable to the City of San Francisco.

Girlfriend? Official business.

What is your strategy in your household?

You have 189,000 as the value of this equity.

Have a surplus? Take two tax cuts, roll back some regulations and call us in the morning.

Now let's say it gets even worse.

It's exciting, but we went over our finances and...

What charges?

Stay with him if he's worthy.

It allows let's say this group of borrowers let's say this pool of borrowers right here actually didn't

External debt something that I can tell you a long story about because I personally worked on one of the biggest debts on the continent has come down dramatically.

This guy, he does have interest.

You can sell shares.

Well everyone knows that it's not going to be exactly 10 .

The park is common property.

I'm a government worker.

I can no longer fulfill my obligations.

So I really do have a positive equity of 11,000.

So we still have the same amount of debt.

So, each of these is an investor.

I trained briefly as a Buddhist monk under this guy.

Just look a caretaker.

I do them for very big, important institutions in New York City.

That man borrows money from many lenders.

That man is a heavy debtor.

That man has many debts.

The bank was profitable.

My next presentation, I'm going to take it to a further

So that's what we're going to show you in the presentation on collateralized debt obligations.

And so when the Federal Reserve or any Central Bank prints money, and it buys debt, it goes out into debt markets and it buys it, it usually buys the safest kind of debt, but that affects all of the debt markets, it goes out and buys in the debt market, they're essentially shifting the supply curve of money to the right, they shift the supply curve to the right.